Ebury, a London, UK-based trade and foreign exchange facilitator for small and medium-sized companies, received a £350m (approximately €400m) investment from Banco Santander.
Santander will acquire 50.1% of Ebury for £350m, of which £70m will be new primary equity (approximately €80m) to support the company’s plans to enter new markets in Latin America and Asia. The bank expects a return on invested capital (RoIC) higher than 25% in 2024. Ebury’s existing investors, including co-founders and management, will reinvest in the transaction and the current management team will remain leading its expansion.
Sergio Rial, Santander Brasil’s CEO and executive sponsor of Santander’s Global Trade Services business, will join Ebury’s board as chairman.
Led by Juan Lobato and Salvador García, Ebury offers a full suite of foreign exchange and international payments services to a wide customer base including SMEs, mid-corporates, banking partners and non-banking financial institution partners. The company has 900 employees working in 22 offices in 19 countries and 140 currencies.
Ebury will continue operating as an independent unit, supported by Santander following its experience in leveraging its Group scale to grow and develop the companies it has invested in, such as Getnet, the bank’s Brazilian 6jsubsidiary.